Financial Daily from THE HINDU group of publications
Monday, Oct 04, 2004
Financial Daily from THE HINDU group of publications Monday, Oct 04, 2004 |
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Opinion
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Letters Fiscal imbalance
"India's worsening fiscal imbalance" (Business Line, September 28) rightly points out various reasons for the country's fiscal deficit. There are three major problems, the first and foremost being that there is little political will to correct the system. If the bureaucrats are very strict in collecting revenue, they are likely to be transferred or harassed by the politicians. The second problem is that some bureaucrats themselves are corrupt. The third problem is that the so-called austerity measures are not being successfully implemented due to political interference. If we cannot solve these problems India cannot become a developed nation by 2020 because, as the article states, only 25 per cent of the revenue is being used for development activities and the remaining 75 per cent is spent on Defence, subsidies, interest payments, and so on. U. T. R. Sridhar Prasad Chennai Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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